Eight ways to retain valuable employees

1) Nurture their talents

Training is arguably the greatest investment that you can make to show your staff that they are valued within the business. Boosting morale and increasing performance levels, it is proven that workplaces that encourage the development of staff enjoy a lower employee turnover.

Indeed, untrained employees often cite demotivation as a reason for leaving, and often move on to enhance their skills and stay up to date with the latest happenings of their chosen industry.

2) Recognise and reward

It may seem like a no brainer, but employees appreciate being recognised and rewarded for good performances and key achievements. A simple ‘thank you’ can make a world of difference to an employee who may feel that they are not valued.

Unsurprisingly, pay rises can play an instrumental role in retaining staff. A simple bonus scheme that is easily understandable can really work to motivate staff and give a reason for them to strive to meet targets.

3) Ensure they know exactly what their role entails

Employees often hold a wide range of responsibilities, and they can be unsure of the tasks that they have to perform on a daily basis.

It is crucial that your employees are aware of exactly what is expected of them. If not, they’ll find it hard to perform to the expected standard (and to get satisfaction from knowing they’re performing well). This will have a major effect on morale and could lead them to seeking another position.

4) Listen up!

Employees often stay with a company for years if they feel that their voice is being heard. Providing a setting and atmosphere where people feel comfortable enough to voice their opinions, positive or negative, not only makes them feel valued but gives the employer the opportunity to continually improve.

5) Promote from within

Giving employees a clear path to career progression ensures that they see a future within your business and stay loyal.

From an employer’s perspective, it is also a cost effective approach and holds the benefit of not having to train a person that has been appointed externally.

6) Ask questions

It’s common practice to conduct exit interviews. However, it is also important to gain insight into why long standing employees have chosen to stay within the businesses.

Asking questions such as, ‘what are your non negotiables?’, ‘what would you alter?’ and ‘why have you chosen to stay’? can give you a really good idea of what you need to do more of and even your USPs as an employer.

7) Create a work-life balance

It’s great if employees are committed and willing to work that little bit extra. However, burn out can cause an incredible amount of stress and even cause employees to underperform in the long run.

While it may not be practicable for employees to work from home on a regular basis, it can be worth offering those that tend to voluntarily work longer hours’ flexi-time, giving them the opportunity to catch up on their personal errands and attend work in the best frame of mind.

8) Share the vision

People like to know that they are making a difference to their team and are considered an asset. Sharing your company’s overall vision and objectives gives the opportunity for them to see exactly where they fit in and the difference that they are making.